Lloyd’s underwriting syndicate has signed an agreement to gain access to the Risk Intelligence System, backed by operational intelligence support services, for use in managing risk in its insurance portfolio.

The Risk Intelligence System offers an overview of immediate, short-, and medium-term security risks for coastal areas, ocean, port, and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts, and any interplay between these parameters.

The deal includes Risk Intelligence’s MaRisk and PortRisk systems, which will assist in writing cover for war risks and other challenging areas. Risk Intelligence will also provide bespoke reports and monthly security risk briefs to the underwriting team.

“This is a great addition to our strong book of insurance clients,” said Jim Pascoe, CCO of Risk Intelligence.

“In welcoming our new client on board, we will be providing our maritime intelligence right into the heart of marine underwriting. It’s particularly pleasing as this was a very competitive process, and our previous delivery to this client secured Risk Intelligence the ongoing contract – once again proving the quality of our analysts and advisory teams.”

“I am very much looking forward to working with our new client, assisting them as they challenge the traditional ways of dealing with war risk cover and books of business.”

Source: https://smartmaritimenetwork.com/2022/08/09/lloyds-adopts-risk-intelligence-system/